Plan Snapshot
- Plan Sponsor: Homestead Funding Corp.
- Sponsor EIN: 141770243
- Sponsor Address: 8 AIRLINE DRIVE, ALBANY, NY, 12205
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 313
- Total Assets: $45.5M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2025 | 313 | $45.5M | $0 | $0 |
| 2024 | 271 | $40.1M | $423,815 | $2.1M |
| 2023 | 290 | $35.1M | $420,914 | $1.9M |
| 2022 | 305 | $30.9M | $553,355 | $2.4M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| MORGAN STANLEY SMITH BARNEY | Other Service Provider | — | $59,357 | $59,357 |
| NATIONWIDE TRUST COMPANY | Other Service Provider | $49,928 | — | $49,928 |
| IRON FINANCIAL | Other Service Provider | $8,600 | — | $8,600 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $117,885
- Estimated Expense Ratio: 0.259% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2025 | $3,927,070 | — | $8,600 | — | — |
| 2024 | $7,884 | — | $7,884 | — | — |
| 2023 | $6,666 | — | $6,666 | — | — |
| 2022 | $6,340 | — | $6,340 | — | — |